QulPay Review: Is A Money-Sucking Scam?

QulPay Review: Is A Money-Sucking Scam?

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The Forex market is a soft spot for scammers who want to make quick and easy money. It’s for this reason that we have many false systems coming up. Most of them promise heaven on earth with their inglorious profit potential. What is more, scammers have even gone a notch higher to state that their signals and trade copiers are 100% safe.

But who is this guaranteeing safety in a market that is so vast and dynamic as the Forex market? And if they claim to sell some sort of snake oil which will guarantee you financial freedom, why can’t they just use that secret to make more money for themselves? Why do they insist on selling and selling some more?

Apparently, those are the questions we’re asking in this review. It concerns a website called Qulpay which can be accessed through this domain —

This website paints a very bad picture on what can be realistically achieved in trading the Forex market. They do this in the name of promoting their top-dollar Forex signals and copy traders.

These promises are unrealistic, hence it’s the reason why many people are having gigantic expectations from the financial markets, thanks to the lies which are directly propagated through Qulpay website.

Qulpay Review: Is This Another Scam in Disguise?

When most people think of the Forex market, what comes into their minds is a picture of a young man smoking cigar and leaning on his chair while printing cash from his home computer.

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Qulpay wants you to believe that you can become this man only if you invest in their darn system which is a surefire way of making endless amounts of money as a retail trader.

They claim to have 5 different trade copiers with varying abilities to trade and profit. They sell EURUSD Trade copier (which is a scalper that trades EURUSD only. Moreover, they sell Best Trade Copier, All in one Trade Copier, and the Millionaire Trade Copier.

The website encourages users to subscribe to their plans in order to enjoy ”profitable” signals on a consistent basis. Apparently, you can get your ticket to financial freedom by investing a minimum of $99 per month. This will get you a trade copier for the EURUSD pair (we don’t know why this trade copier is only restricted to this one pair).

On the other hand, Best Trade Copier is sold for $120 per month. But if you don’t want any of those options, you can fork out $149 or even $999 per month to get their ”best-in-class” trade copiers.

Now, the last option (which they call the Millionaire trade copier) is very very pricey. But at the same time, it’s the worst scam of humanity because no one can ever claim that they have a fail-proof system that can trade with 100% accuracy.

They stated clearly that these signals are generated by their ”expert” analysts. However, it appears that the so-called expert analysts can never predict a trade that will go wrong. If they aim at 100 pips, they have to get it no matter what.

We believe that this product (the Millionaire Trade Copier) is creating a false perception. It makes people believe that if you pay Qulpay $999 per month, you will be guaranteed profits.

The reality of the matter is that this plan is overly exaggerated. First of all, we don’t yet have proof that this Trade Copier was tested and proven to bring consistent results.

At the same time, we know that people can only make profits when they rely on a time-tested strategy. In short, if we are going to make any money off any of Qulpay’s products, we will first need to get your expectations under control.

So before you can imagine that Qulpay has the ultimate secret formula that will make you cruise in Miami in that Lamborgini which you saw on a Forex scam page, try and think twice.

This particular plan (which costs a hooping $999 a month) promises you lots of money, a bottle of champagne in one arm, and a hot babe on the other, yet we know very well that such a formula can never exist in the world.

Apparently, if you’re considering any of the product packages sold by Qulpay, you will have to come to terms with the inconvenient truth which traders who are hell-bent for quick profits often face.

The Trading History Graph: Can it be Trusted?

In an effort to convince us, QulPay decided to present their ”past performance” in form of a history graph. And indeed the results are very pleasing when you look at this graph.

qulpay scam
Profit graph can’t be trusted

There are very few ”losing” trades as compared to winning ones. But that’s the ideal way of promoting any copy trader product. Many traders may start with less than $1,000 after grabbing any of these products from Qulpay, thinking that they’ll get rich in a fortnight.

But what these guys are not telling you is the number of pips they risked in that account. You see, scammers often post results from a demo account which they traded for 1 week and got good results.

Remember that past performance cannot be used to judge future performance. Secondly, anyone who is involved in this kind of operation will seem to build their accounts fast.

They will accumulate profits so fast but will never reveal draw down percentage or even the amount of money they risked in any of their trades. If you trade this way, you will ultimately wipe your account sooner or later. Besides this, if these results are not on MyFXbook, they can’t be trusted, hence we’re disqualifying Qulpay from the word go!

Free Forex signals: Is This True?

This is one example of a contradicting statements used by Qulpay. On one part of the website, Qulpay claimed that they were offering Forex signals for free. Then on the other, they claimed that these signals were to be used for a subscription fee of $99 per month.

qulpay scam
Forex signals initially free
qulpay scam
Forex signals now cost $99 per month

That’s monkey business. And as a matter of fact, no one should subscribe to a service that is not upfront or honest with its clients. Although they claim to be honest and transparent, those results which they’ve posted here cannot be proved. Couple this with their false promise of free Forex signals and you will see that this service is run by someone who is not very transparent

Who is Qulpay?

Before you can hand in your hard-earned cash in the name of opening a ”Managed account” through Qulpay, you need to ask yourself this question: who are these guys?

You see, fraudulent operations often ride on deception to get more clients. However, the people behind them will never expose who they are at all cost.

Qulpay website does not have an ”about us” section where potential clients can learn about the ”company” and the real people behind it.

It seems that Qulpay is being managed by a group of people who prefer to remain in the shadows while believing that their exaggerated claims will make people ”invest” in their products. You need to exercise caution here.

Conclusion of the matter

Qulpay is not a very transparent website. And if you have read this Qulpay review up to this far, then it means that you are now enlightened about Qulpay and its products. You are in a better position to make sound judgement. However, before you go away, we’d like to recommend for you these Forex products instead. If you are serious about investing in Forex, you better go with a Forex signal or mentoring program that’s realistic and practical. We don’t recommend Qulpay Forex products.

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4 Replies to “QulPay Review: Is A Money-Sucking Scam?”

  1. what you think about the current rate they reflect in there website. and show the amount of pips gained ? which shows whether they are profit or loss making ?

    1. Rates are exaggerated and that’s the first mistake. Second problem is that signal performance is not represented on myfxbook platform. They simply cooked figures here and there while awarding false pips which were not made. And even if they presented myfxbook results, those results would still be subject to thorough scrutiny. Bottom line is this: avoid qulpay as stated in this review.

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